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Malaysia keeps March crude palm oil export tax unchanged at zero

Friday, February 12, 2016 - 16:40
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Malaysia, the world's second-largest palm oil producer after Indonesia, will maintain its crude palm oil export tax at zero in March, contrary to market expectation, a government circular showed on Friday.

[KUALA LUMPUR] Malaysia, the world's second-largest palm oil producer after Indonesia, will maintain its crude palm oil export tax at zero in March, contrary to market expectation, a government circular showed on Friday.

The rate has been held at zero since May 2015.

The Southeast Asian nation calculated a reference price of RM2,172.69 per tonne for March. A price above RM2,250 per tonne incurs a tax, which starts from 4.5 per cent and can reach a maximum 8.5 per cent.

REUTERS